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The Ascent of Money

 

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The Ascent of Money



 
 
The Ascent of Money is Harvard professor Niall Ferguson
Niall Ferguson

Niall Ferguson is a British historian. He specialises in financial and economic history as well as the history of empire. He is the Laurence Tisch Professor of History at Harvard University and the William Ziegler Professor of Business Administration at Harvard Business School....
's tenth book and was published in 2008. It examines the long history of money
History of money

The history of money spans thousands of years. Numismatics is the scientific study of money and its history in all its varied forms.Many items have been used as commodity money such as naturally scarce precious metals, conch shells, barley, beads etc., as well as many other things that are thought of as having value....
, credit
Credit

Credit may refer to:*Debits and credits, a type of book keeping entry*Credit , acknowledging the ideas or other work of writers and contributors...
, and banking. In it he predicts a financial crisis as a result of the world economy and in particular the United States using too much credit. Specifically he cites the China–America dynamic where an Asian "savings glut" helped create the subprime mortgage crisis with an influx of easy money.

The book was adapted into a television documentary for Channel 4
Channel 4

Channel 4 is a UK Public service broadcasting in the United Kingdom television broadcaster which began transmissions on 2 November 1982. Although commercially self-funded, it is ultimately publicly owned; originally a subsidiary of the Independent Broadcasting Authority , the station is now owned and operated by the #Channel Four Television...
 in the United Kingdom
United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom , the UK or Britain,is a sovereign state located off the northwestern coast of continental Europe....
.






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The Ascent of Money is Harvard professor Niall Ferguson
Niall Ferguson

Niall Ferguson is a British historian. He specialises in financial and economic history as well as the history of empire. He is the Laurence Tisch Professor of History at Harvard University and the William Ziegler Professor of Business Administration at Harvard Business School....
's tenth book and was published in 2008. It examines the long history of money
History of money

The history of money spans thousands of years. Numismatics is the scientific study of money and its history in all its varied forms.Many items have been used as commodity money such as naturally scarce precious metals, conch shells, barley, beads etc., as well as many other things that are thought of as having value....
, credit
Credit

Credit may refer to:*Debits and credits, a type of book keeping entry*Credit , acknowledging the ideas or other work of writers and contributors...
, and banking. In it he predicts a financial crisis as a result of the world economy and in particular the United States using too much credit. Specifically he cites the China–America dynamic where an Asian "savings glut" helped create the subprime mortgage crisis with an influx of easy money.

The book was adapted into a television documentary for Channel 4
Channel 4

Channel 4 is a UK Public service broadcasting in the United Kingdom television broadcaster which began transmissions on 2 November 1982. Although commercially self-funded, it is ultimately publicly owned; originally a subsidiary of the Independent Broadcasting Authority , the station is now owned and operated by the #Channel Four Television...
 in the United Kingdom
United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom , the UK or Britain,is a sovereign state located off the northwestern coast of continental Europe....
. In the United States
United States

The United States of America is a Federal government constitutional republic comprising U.S. state and a federal district. The country is situated mostly in central North America, where its Contiguous United States and Washington, D.C., the Capital districts and territories, lie between the Pacific Ocean and Atlantic Oceans, Borders of the U...
 it has been aired by PBS.

Reviews

  • from The New York Review of Books
    The New York Review of Books

    The New York Review of Books is a fortnightly magazine with articles on literature, culture and current affairs published in New York City....